Split Rock Partners
Venture capitalEden Prairie · Seed–Late Stage · 4 people tracked
Investment thesis
Split Rock Partners supports entrepreneurs building leading software and cloud-based services companies. The firm emphasizes relationships grounded in integrity and mutual respect, partnering with strong management teams to address the challenges of scaling. Drawing on decades of experience with emerging companies, it takes a patient, flexible approach adapted to each company's needs. Split Rock invests from early revenue generation onward and focuses on cloud services, next-generation enterprise software and infrastructure, analytics and big data, and marketing technology, supporting companies throughout their pursuit of market leadership.
Source: firm website, verified Aug 11, 2026.
Team · 4 people
from public directories
What they invest in
from 3 of 3 portfolio companiesAI & Machine Learning ×2Enterprise Software ×2Cloud Computing ×1Cybersecurity ×1Developer Tools ×1Healthtech ×1Marketing Tech ×1Medical Devices ×1
HQs:United States×2Australia×1
Investments · 3 tracked
founders shown can be your intro pathBy year:2017 · 12015 · 23 dated
EBR Systems develops the WiSE cardiac pacing system, a leadless and physiologic medical device for treating heart failure patients.
HealthtechMedical DevicesSilicon Valley, AU
Allan Will(Executive Chair)John McCutcheon(President, Chief Executive Officer)Chris Nave(Director)Richard Riley(Executive Officer)Trevor Moody(Director)Leighton Read(Director)
Board seatDave Stassen· per SEC Form D · $56M raise · filed Nov 2017
Acquia provides digital experience platform software and services built around Drupal that enables enterprises to manage content, build websites and applications, and deliver experiences across multiple channels.
AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise SoftwareMarketing TechSaaSBoston, US
Dries Buytaert(Co-Founder, Executive Chairman)Thomas N. Erickson(Chief Executive Officer, President)Michael Cayer(General Counsel and Secretary)Christine Komola(Director)Richard D'Amore(Director)Thomas Bogan(Director)
Code42 (operating as Mimecast Incydr) provides data loss prevention and insider risk management software that detects and prevents unauthorized data exfiltration across modern work channels, including shadow AI tool usage.
AI & Machine LearningCybersecurityEnterprise SoftwareMinneapolis, US
Elizabeth Fortier(Executive Officer)Matthew Dornquast(Director)Joseph Payne(Executive Officer, Director)Michael Stankey(Director)
BoardHarry Gruner(Director)Ping Li(Director)
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Exits · 1
IPOs and acquisitions across the tracked portfolioEBR SystemsOTC: EBRCZ
Fund performance · per public LP disclosures · 2
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Split Rock Partners II, LPLPs: Minnesota State Board of Investment | 2008 | — | 5.5% | 1.37x | 1.19x |
| Split Rock Partners LPLPs: Minnesota State Board of Investment | 2005 | — | 3.2% | 1.30x | 1.23x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Split Rock Partners invest at?
- Split Rock Partners invests at the Seed, Series A, Series B, Series C, Growth, Late Stage stages.
- What is Split Rock Partners's typical check size?
- Split Rock Partners typically writes checks of $2M – $40M.
- What sectors does Split Rock Partners focus on?
- Split Rock Partners focuses on Biotech, Cloud Computing, Consumer, Data & Infrastructure, Enterprise Software, Healthtech, Marketing Tech, Medical Devices, SaaS.
- Where is Split Rock Partners located?
- Split Rock Partners is headquartered in Eden Prairie, US.
- Does Split Rock Partners lead rounds?
- Yes, Split Rock Partners leads investment rounds.
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